Celo Integrates Nightfall for Enterprise Privacy in B2B Payments
Celo, a global mobile-first blockchain, has integrated Nightfall, an open-source privacy layer application, to enhance enterprise confidentiality while maintaining the transparency of public blockchain systems. This move positions Celo as a leader in the enterprise B2B payments sector, which is expected to exceed $180 trillion in cross-border flows.
Celo, with over 500,000 daily active users and $2 billion in stablecoin volume monthly across 150 countries, has launched Nightfall as a Layer 3 on its network. Nightfall, the first payments-oriented blockchain development of its kind, uses Zero-Knowledge Proof (ZKP) technology to facilitate private transfers of multiple token standards, including ERC-20, ERC-721, ERC-1155, and ERC-3525.
Celo's Co-Founder and President of the Celo Foundation, Rene Reinsberg, noted that Nightfall brings enterprise-level privacy features to Celo's global entry infrastructure. Enterprises using Celo can now execute private B2B transactions using stablecoins like USDT and USDC, with support for gas fee abstraction in ERC-20 tokens. This integration is seen as a critical step in expanding blockchain's role in global payments, enabling secure and cost-efficient financial transactions.
With Nightfall, Celo creates a unified platform serving both individuals and enterprises, offering advanced privacy-focused tools. Celo's deployment of Nightfall positions it as a leader in the enterprise B2B payments sector, poised to benefit from the growing demand for secure and efficient cross-border financial transactions.
